The Average person earns his first regular paycheck somewhere between 18 and 25 and his/her income tends to go up until reaching 50 to 55.... then the average persons income levels off until Social Security time, then it stops......
Here's the point that surprises me: This average person will earn between his first and last paycheck more than $900,000. The person with special training will earn more than $1,800,000 during his or her working years. That’s a lot of money Jim.... but look at this: Here's how these original 100 made out after having this kind of money go through their pockets.
4... will be well off They will have annual income of more than $40,000
49.. will have annual incomes of between $7,000 and less than $40,000
22... will have income under poverty less than $7,000 per year!
25... will be dead.. They never made it to Social Security time. That’s about the average... one out of four won’t live to 65.
Look at this next figure. This really tells the story.
That means Seventy one have only Social Security benefits or they are dependent----on friends, family, charity etc..... why that’s almost 3/4 of them. almost three fourths of the original 100 after earning this kind of money.....(Point to lifetime earnings). Ok look at this add 25 and 71. that’s 96.....think about it..... starting here at age 18... ninety six are either Dead or Dead Broke when they get to Social Security time.
Do you suppose any of these people when they were starting out planned to be financial failures? of course they didn't. Nobody works their entire life with the goal of being a financial failure. Maybe these people didn't understand the need to have a written plan. A written plan with automatic systematic deposits!
Your GDI broker can help you set up an Insured Savings plan. If you consider a 35 year old person saving just $100.00 a month... for 30 years at 6% interest (no risk of principle) at 65 that acount will grow to $100,000! Without risking principle!